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FCA sets out how it will investigate mortgage panels


The FCA has set out the scope of its investigation into how mortgage panel arrangements hurt competition and consumer choice.

The regulator outlined its plans in May to examine competition in the market, including how consumers assess products, the impact of regulation and commercial relationships across the mortgage market.

Speaking at an FSE event in London today, FCA head of competition Deb Jones said the regulator would investigate the issue as part of its terms of reference ahead of publishing a formal study towards the end of the year.

She said the FCA was interested in the impact of panel and other commercial arrangements between lenders, brokers and other firms in the mortgage supply chain.

The regulator will also review possible conflicts of interest and how these could cause barriers to entry, harm competition and affect consumer choice.

Jones says: “We want to explore how commercial arrangements operate. We recognise the benefits these bring in the sector. We are not looking to tear anything up but we want to look at the pros and cons and see how that stacks up in the interests of the consumer.”


As part of the study, the FCA will also  look at whether consumers who buy mortgages through brokers have a different outcome to those who go direct.


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By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]


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  1. You would think that the answers to all the above would be obvious if they actually bothered to monitor the market they rip so much money from on a yearly basis.

    Only the FCA can turn something painfully obvious into Rocket Science. What is worse is if the past is any indicator they will then choose to miss the point because it does not suit their agenda just as they did with MMR.

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